Max Power drills natural hydrogen well

With a natural hydrogen discovery now confirmed at Lawson, Max Power is advancing toward potential commercialisation while simultaneously testing additional play concepts across Saskatchewan. The Bracken well represents an important step in demonstrating basin-scale continuity, supporting the geological team’s interpretation that natural hydrogen systems in Saskatchewan are repeatable and scalable across multiple trends.

Bracken highlights

• The Bracken well location was generated through an integrated geophysical and geological workflow leveraging 34.3-line km of newly acquired proprietary 2D seismic data combined with legacy 2D seismic.
• This dataset was rigorously interpreted to delineate basement architecture, structural and stratigraphic pathways, and prospective migration corridors considered critical to natural hydrogen and associated clean gas accumulation.
• Like Genesis to the northeast, the Grasslands Project is considered prospective for multiple potential Natural Hydrogen discoveries that may also include helium.
• Bracken and the broader Grasslands Project is benefiting from, and informing, the Company’s in-house AI-assisted Large Earth Model Integration (LEMI) platform known as MAXX LEMI, MAX Power’s proprietary tool to optimise Natural Hydrogen exploration and drill target selection.

Steve Halabura, MAX Power’s Chief Geoscientist, commented: “We are very excited regarding Bracken given the amount of data we have from the area and all that we’ve learned from Lawson. Bracken is where the MAX Power team first discovered Natural Hydrogen in the sub-surface in Saskatchewan, through historical drilling, and the broader area is a known helium fairway. At Bracken, we’ll be testing a stratigraphic play concept vs. the structural play concept successfully developed at Lawson and across the Genesis Trend. There are some similarities in the Natural Hydrogen geological model between Bracken and Lawson, but each has its own unique trap and seal mechanisms.”

Ran Narayanasamy, CEO of MAX Power, added: “We continue to move at a rapid pace with respect to Natural Hydrogen exploration and development in Saskatchewan where we have the advantage of a mature and favourable policy framework. This also highlights the stark timeline difference between exploration and potential commercialisation of Natural Hydrogen vs. traditional mineral and metal projects. This is months to molecules, not years. Our goal is to quickly unlock scalable, low-carbon energy resources in Saskatchewan, and leverage the MAXX LEMI model for Natural Hydrogen on a global basis.”

Bracken and the Grasslands Project

The Bracken prospect forms part of a broader, regionally extensive exploration fairway across MAX Power’s 75-km-wide permitted Grasslands Project. This emerging play has meaningful district scale potential, with Bracken serving as a key calibration point for future drilling locations. Success at Bracken would materially de-risk additional prospects already defined within the seismic and MAXX LEMI framework, positioning MAX Power to rapidly advance a growing inventory of follow-up targets across its highly prospective Saskatchewan portfolio.

Why this matters to investors

Advancing a second, independently derived natural hydrogen play concept a few hundred kilometers from Lawson in the southwest corner of the province reinforces that the Company’s opportunity extends beyond a single discovery or trend and into a potentially very large basin-scale system. Lawson has validated MAX Power’s geological model for Natural Hydrogen, a model that includes multiple play concepts – the second of which will be tested at Bracken with strong confidence given recently interpreted proprietary 2D seismic data combined with initial success at Lawson. As commercialisation efforts advance at Lawson, drilling at Bracken provides an opportunity to further define scale, potential economics, and long-term development possibilities for Natural Hydrogen in Saskatchewan, Canada.

Options and RSUs Granted

The Company announces that it has granted 3.415 million stock options at an exercise price of US$1.08 with a 3-year expiry, and 2.99 million restricted stock units (RSUs) to management, directors, and consultants of the company. The stock options and RSUs will vest in accordance with vesting terms to be determined by management and subject to the terms and conditions of the Company's stock option and restricted stock unit plan.

MAX Power enters into marketing agreements

The Company has entered into a service agreement with Apollo Shareholder Relations Ltd. (Apollo) to provide investor awareness and investor communications services. Under the agreement, Apollo will conduct digital investor relations and communications activities intended to increase awareness and understanding of the company and its business.

The agreement has an initial term of six (6) months, commencing 23 January 2026, and may thereafter continue on a month-to-month basis. Under the agreement, the Company will pay Apollo an aggregate cash fee of US$45 000, payable over the initial term, and will grant 100 000 stock options, subject to board approval. The stock options will be issued in accordance with the company’s stock option plan and applicable securities laws. The agreement contains no performance-based compensation. Apollo and the company are arm’s length and unaffiliated parties. At the time of the agreement, Apollo and its principals advised that they did not hold any direct or indirect interest in the securities of the company.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/02022026/max-power-drills-natural-hydrogen-well/